THIRD YEAR IN A ROW: 400,000 M² MARK SURPASSED
After the record set in the first half of the year, the third quarter was much more restrained on the Hamburg office market: with a take-up of 413,000 m² the result after the first nine months is more or less at the level of the previous year (418,000 m²), but still well above the long-term average (around 9%). At the same time, the result of the Elbe metropolis exceeds the 400,000 m² mark for the first time in three consecutive years, underlining the good economic conditions in the Hanseatic city. It therefore remains to be seen whether the relatively weak third quarter, which is primarily due to the lack of large deals, is just a snapshot. As before, more space is absorbed by the demand side than gets onto the market in the same period, leading to a constant reduction in supply.
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